Rio Tinto confirms it is being investigated in US over accounts writedown December 1, 2016 Rio Tinto confirmed this morning that it is the subject of a long-running US Securities and Exchange Commission (SEC) probe. The investigation, which started in April 2013, relates to a $3bn (£2.4bn) impairment charge lodged in its 2012 accounts in respect of Rio Tinto Coal Mozambique. Rio Tinto Coal Mozambique housed assets the company picked up when it took [...]
Transport for London hits back at Chris Grayling’s dismissal of Heathrow costs December 1, 2016 Transport for London (TfL) has hit back at the transport secretary, after he branded its cost estimates for rail and road improvements around Heathrow expansion "ludicrous". The Airports Commission had estimated that surface infrastructure changes would cost £5bn, but TfL responded by saying the figure underestimated the cost and required changes would cost in the realms of [...]
Chris Grayling promises compensation for Southern passengers and slams “politically motivated” industrial action December 1, 2016 Transport secretary Chris Grayling has described more proposed industrial action on Southern as "politically motivated" and "designed to create maximum disruption". In a letter to Simon Kirby MP for Brighton Kemptown received yesterday, Grayling said: "We cannot allow the unions to dictate how or whether the railways should be modernised or not. They are seeking the [...]
Daily Mail publisher’s shares shoot up despite print advertising woes December 1, 2016 Shares in the owner of the Daily Mail jumped five per cent this morning despite the company reporting falling profits amid print advertising troubles. The figures Daily Mail and General Trust (DMGT) reported adjusted revenue up four per cent to £1.9bn in preliminary results for the year to 30 September. But operating profit fell four per [...]
City watchdog proposes ban and £234k fine for TailorMade Independent boss December 1, 2016 The City watchdog has today proposed a ban and a fine of £233,600 for the chief executive of TailorMade Independent. The Financial Conduct Authority (FCA) alleges that Alistair Burns failed to make sure TailorMade, which was dissolved in July this year, was providing clients with suitable advice. Between January 2010 and January 2013, TailorMade advised over 1,600 customers to transfer [...]
British wine production is set to skyrocket by the year 2100 because of the changing climate December 1, 2016 The cost of importing wine is set to hit Britain hard due to the weak pound, but what if the UK could make its own? Well, by the year 2100, Britain could be a leading wine producing region, a new study suggests. The changing climate will transform areas of the UK including Essex, the east of England [...]
FCA wants customers to shop around for the best bank interest rates and have revealed who gives the best returns on cash December 1, 2016 With interest rates at rock bottom levels we've all become accustomed to the fact we shouldn't expect much of a return from our bank accounts. And today, the UK's financial watchdog named and shamed the banks paying the lowest interest rates on cash savings accounts. Read more: City watchdog warns of asset management "market failure" [...]
Opening a new passage to India for UK SMEs December 1, 2016 It wasn't so long ago that the future foundations of global trade were going to be built by Brics – that is, Brazil, Russia, India, China and South Africa. These expansive developing countries, with huge populations and emerging economies, looked set to dominate the new century. But it hasn’t happened, and presently won’t. Brazil is in [...]
Brexit secretary: UK would consider paying EU for Single Market access December 1, 2016 Brexit secretary David Davis has revealed that the UK is prepared to consider paying to the European Union to secure terms on Single Market access. Speaking in the House of Commons this morning, Davis was asked by Labour Caerphilly MP Wayne David whether the government would consider making “any contribution in any shape or form” [...]
Feeling peckish? You can now get a Just Eat takeaway delivered by a robot December 1, 2016 The robots are coming. But wait, only to deliver your takeaway. Just Eat has teamed up with Starships Technologies to deliver its first takeaway meal by a robot. It follows five months of "exhaustive testing" in Greenwich, and the pilot programme will see local customers in the area received automated deliveries So fear not if [...]